Answered: Rick, who is single, has been offered a…

Rick, who is single, has been offered a position as a city landscape consultant. The position pays $147,800 in cash wages

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 40P

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Question

Rick, who is single, has been offered a position as a city landscape consultant. The position pays $147,800 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.)

a. What is the amount of Rick’s after-tax compensation (ignore payroll taxes)?

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